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Memphis College of Art has tapped real estate brokerage firm Cushman & Wakefield/Commercial Advisors to handle the sale of its Midtown portfolio.

The 80-plus-year-old institution announced in October it would be shuttering its doors for good in May 2020. Proceeds from the sale of MCA's real estate will create a reserve fund for the teach-out of the current students and retire the college’s real estate debt, according to MCA president Laura Hine.

Campbell Clinic has been awarded an eight-year retention PILOT (payment-in-lieu-of-taxes) from the Germantown Industrial Development Board to help pave the way for its campus expansion plans, which include a $30 million, 120,000-square-foot new facility.

Campbell Clinic has been awarded an eight-year retention PILOT (payment-in-lieu-of-taxes) from the Germantown Industrial Development Board to help pave the way for its expansion plans, which include a $30 million, 120,000-square-foot new facility.

Campbell Clinic has been awarded an eight-year retention PILOT (payment-in-lieu-of-tax) from the Germantown Industrial Board to help pave the way for its expansion plans, which include a new $30 million, 120,000-square-foot facility.

A foggy night, rising temperatures and the prospect of snow by Friday evening. This sounds like a familiar setting for something unexpected in Memphis while the old year is still a recent memory and the new year is still new. Tigers on a tear Tuesday evening at FedExForum, beating Tulane 96 – 89.

Laura Fenton has joined Cushman & Wakefield/Commercial Advisors as director of marketing and research. CW/CA’s Marketing & Research department serves as the commercial real estate firm’s in-house agency for brokers and clients, and in her role, Fenton leads strategic communication, marketing and research for business development initiatives, marketing on behalf of clients, public relations, advertising, internal communications, social media and community involvement.

With $11 billion spread out among more than 300 active projects in the Memphis area, according to data from brokerage firm Cushman & Wakefield/Commercial Advisors, it’s safe to say business in the region is good.

Spin Street, the record store at the corner of Poplar Avenue and Highland Street, is preparing to close its doors.

The store – which in recent years has expanded its product assortment extensively to include everything from toys and T-shirts to even drones – is holding a closing sale now. Signs advertise 30 percent to 50 percent off the original prices, and the closing is set for the end of January.

Spin Street, the record store at the corner of Poplar Avenue and Highland Street, is preparing to close its doors.

The store – which in recent years has expanded its product assortment extensively to include everything from toys and T-shirts to even drones – is holding a closing sale now. Signs advertise 30 percent to 50 percent off the original prices, and the closing is set for the end of January.

Despite a growing trend of major businesses relocating Downtown, the East submarket still led the way by a large margin in office leasing volume in the third quarter.

In total, the Memphis office market absorbed 156,280 square feet of space, which marks the third consecutive quarter of positive absorption, according to Cushman & Wakefield/Commercial Advisors’ Q3 Office MarketBeat report. This brings the year-to-date net absorption to 625,707 square feet, a drastic increase from the negative 59,344 square feet absorbed in the first three quarters a year ago.

April Steele has joined Southern Growth Studio as a business anthropologist, responsible for collecting and analyzing data to evaluate existing and potential products and services. Steele’s hire comes as the Memphis-based innovation consulting firm grows its applied anthropology practice. Using qualitative social research methods like ethnography, the anthropology team steers the innovation process, conducting primary research to distill and communicate key insights to clients.

Details: Seattle, Washington-based sporting and camping goods retailer REI has filed a $900,000 building permit application for tenant improvement in the former Sports Authority building at 5895 Poplar Ave. in the Ridgeway Trace shopping center.

Memphis native Vonesha Mitchell has joined the Memphis Medical District Collaborative as program manager, community development. Mitchell’s new position rolls together several functions, including recruiting retail for vacant and underutilized storefronts, working with U3 Advisors to launch and administer the Hire Local program, developing assistance package and incentive programs, and engaging current and potential businesses in the district to understand opportunities and concerns.

Back from the eclipse it would seem. Although I’m pretty sure some part of the moon is still obscuring me. Alas, I will just have to walk around with a crescent missing here or there. Just don’t look at me directly and we will both be okay. Although you might see me wearing the Seer Sucker this week seeing as how the same laws that govern looking at the sun during an eclipse apparently apply to wearing Seer Sucker after Labor Day. It's just not done. Famous last words.

In March, Tommy Sneed Jr. bought out his father, three uncles and an aunt, and became the owner of 60-year-old Sneed Insurance.

Previously, he did not have a stake in the family business. Instead, he had gone out on his own and for four years been the owner of Sneed Insurance Advisors. That experience taught him the “grind of a startup business,” the reality of working to build it every single day, ideas always swirling, and nowhere to look but in the mirror in those moments when you have worries.

Sarah Henning has been promoted to director of population health programs at HealthChoice. Henning previously served as manager of the department. In her new role, Henning is responsible for designing, implementing and managing population health and wellness initiatives and programs for the HealthChoice network. She also collaborates with stakeholders to promote and support these programs and to ensure they meet the needs of the affected populations and adapt with the changing health care environment.

It’s almost like the first half of 2017 was a decade in the making, at least when it comes to commercial real estate. Throughout all four major sectors of the Memphis-area commercial real estate market – industrial, office, retail and multifamily – figures are consistently reaching or exceeding pre-recession marks.

With massive speculative buildings popping up all over North Mississippi and a direct vacancy rate lower than 6 percent for DeSoto County industrial sites, it’s hard to imagine a developer would still be able to find a hidden gem among the existing inventory. But that’s exactly what Agracel Inc. did.

Beauty retailer Sephora announced it will be looking to hire 400 workers at its distribution center in Olive Branch that is scheduled to open later this month, according to The Associated Press.

The subsidiary of French luxury goods house LVMH signed a lease for its 720,000-square-foot facility in the second quarter of 2016, according to real estate brokerage firm Cushman & Wakefield/Commercial Advisors’ Q2 2016 Industrial Snapshot.

Beauty retailer Sephora announced it will be looking to hire 400 workers at its distribution center in Olive Branch that is scheduled to open later this month, according to The Associated Press.

The subsidiary of French luxury goods house LVMH signed a lease for its 720,000-square-foot facility in the second quarter of 2016, according to real estate brokerage firm Cushman & Wakefield/Commercial Advisors’ Q2 2016 Industrial Snapshot.

Senses, the nightclub on the eastern side of the Poplar viaduct, is back. Apparently it’s been back for a little while but the top code enforcement official involved says it is news to him and may be a violation that puts this matter in Environmental Court.

Gerald W. Laurain is chief investment officer at FTB Advisors Inc., a subsidiary of First Tennessee Bank. He oversees a large number of financial advisers that work with individual and corporate clients.

It’s a $30,000 fine, about $5k more than expected by most. And Grizz players say they will chip in to pay the fine the NBA levied on coach David Fizdale for his epic rant on the officiating in Game 2 of the playoff series between the Grizz and the Spurs.

Though small to mid-sized leases comprised the majority of leasing activity, the Memphis area office market got off to a healthy start in 2017, according to Cushman & Wakefield/Commercial Advisors’ first quarter Marketbeat report.

Primacy II, a 123,265-square-foot East Memphis office building, has a new owner thanks to a huge $17 million deal.

Nashville-based Priam Capital purchased the office building located at 6055 Primacy Parkway near the intersection Ridgway Road and Park Avenue from The Southland Companies for $16.6 million, according to a warranty deed filed with the Shelby County Register of Deeds April 11.

It’s easy to dismiss the city’s abundance of large warehouses as just big boxes full of smaller boxes, but according to Cushman & Wakefield/Commercial Advisors president and CEO Larry Jensen, that would be a mistake.

Many of the area’s best and brightest commercial real estate minds were on hand for the Memphis Area Association of Realtor’s Annual Commercial Property Forecast Summit at the Halloran Centre for Performance Thursday afternoon.

The Memphis Area Association of Realtors’ Commercial Council will host its 15th annual Commercial Property Forecast Summit on Thursday, Feb. 16, at the Halloran Centre for the Performing Arts & Education, 225 S. Main St.

The Memphis Area Association of Realtors’ Commercial Council will host its 15th annual Commercial Property Forecast Summit on Thursday, Feb. 16, at the Halloran Centre for the Performing Arts & Education, 225 S. Main St.

Nashville-based Priam Capital has expanded its Memphis portfolio with the purchase of a 45,000-square-foot office building along the Poplar corridor.

Priam, acting as 5400 Poplar LLC, purchased the office building at 5400 Poplar Ave. from HBAM Member Services for $5.7 million, according to a Jan. 31 warranty deed filed with the Shelby County Register of Deeds.

Nashville-based Priam Capital has expanded its Memphis portfolio with the purchase of a 45,000-square-foot office building along the Poplar corridor.

Priam, acting as 5400 Poplar LLC, purchased the office building at 5400 Poplar Ave. from HBAM Member Services for $5.7 million, according to a Jan. 31 warranty deed filed with the Shelby County Register of Deeds.

The Greater Memphis Chamber has promoted Ernest Strickland to senior vice president of workforce development, a newly created role. Strickland, who has worked at the chamber since 2006, previously served as vice president of international and business partnerships.In his new position, he is responsible for creating and implementing the chamber’s workforce development strategy. His department serves as a liaison, working directly with existing and prospective businesses to ensure they are able to attract and retain a qualified workforce today and in the future.

Not many people were racing to start up banks in 2008, with the underpinnings of the financial system teetering. One of the few who did was Curt Gabardi, a former Regions Bank executive who envisioned a bank that would focus primarily on commercial and private banking clients.

Coming off of a strong year in 2015, the commercial real estate market in the Memphis metropolitan area continued to do well in 2016.

Larry Jensen, president and CEO of Cushman & Wakefield/Commercial Advisors, said his company was tracking approximately 6 million square feet of net absorption in the industrial market headed into the last week of 2016, as compared to 8.4 million in 2015.

At a press conference fittingly held at the National Civil Rights Museum, The Greater Memphis Chamber announced their newest pilot program Thursday, Dec. 15: the Ascend Memphis Business Development Pilot Program.

Snap goes the streak. Cavs over the Grizz in Cleveland Tuesday 103-86. The Cavs are here Wednesday without LeBron James, Kevin Love or Kyrie Irving. For the Grizz, we shall see about Deyonta Davis who came out of Tuesday’s game with a left foot injury.

Aiken was executive vice president/CEO of Cushman Wakefield-Commercial Advisors. Among his many professional achievements, Aiken served as president of the SIOR (Society of Industrial and Office Realtors) Memphis Chapter in 2007-2008.

A North Mississippi industrial park more than 10 years in the making is reaching the finish line. By next May, Hillwood Investment Co. will wrap construction on a 947,000-square-foot warehouse on the final parcel in the DeSoto Trade Center.

When ServiceMaster Global Holdings announced its move to the shuttered Peabody Place Mall from Ridge Lake office park, it promised new life for a 328,000-square-foot black hole in Downtown’s retail market.

Lori Kirkpatrick has joined Cushman & Wakefield/Commercial Advisors as chief financial officer. In this role, Kirkpatrick oversees all finance and accounting functions at the commercial real estate services firm, including lease administration services provided to clients. She focuses on driving projects and innovations and ensuring quality and commitment to our clients.

In what is sure to be one of the top commercial real estate transactions of the year, the majority of the 1.2 million-square-foot Nonconnah Corporate Center has sold. ReMark Trust, an out-of-town investment group, purchased the property for $57 million.

The warehouse looks like a foreign object that sprouted in the middle of a Midtown neighborhood. Surrounding the two-story warehouse at 802 Rozelle St. are two-story, single-family homes with fenced yards. The adjacent CSX and Union Pacific railyard is the only indicator that this enclave was once an industrial area. After a $2 million renovation, the dated warehouse will emerge as a highly modern neighborhood asset.

WASHINGTON (AP) – The job market is humming, and so are the U.S. financial markets, with major stock indexes near record highs.

All that would normally trigger a green light for the Federal Reserve to raise interest rates – especially when they're barely above all-time lows. Yet the Fed, still casting a wary eye on the economy, has yet to signal that it will resume raising rates soon.

There aren’t any terms yet. But it would appear that there is enough common ground between the owners of Wiseacre Brewing and the administration of Memphis Mayor Jim Strickland to take what amounts to a letter of intent on the Mid-South Coliseum to the City Council Tuesday.

Memphis’ office and industrial markets saw strong second quarters, with increased absorption and positive outlooks for the rest of the year.

The quarter was dominated by ServiceMaster Global Holdings’ announcement that it was moving its headquarters from East Memphis to the shuttered Peabody Place mall. The home services and tech company will transform the former mall into a $27 million, Class A office building.

A Nashville-based investment group has made its first purchase in Memphis. Priam Capital has purchased the Grove Park Building at 4515 Poplar Ave. in East Memphis from GPCTN Investment Co. LLC for $8.6 million.

A conversation with Metropolitan Bank executives about a new business advisory platform the 9-year-old bank has just launched quickly turned into a talk about how much of a commodity business banking has become.

Cushman & Wakefield/Commercial Advisors has named Memphis broker Kemp Conrad as one of the top performing real estate professionals in the country. The designation is given each year to the top 20 C&W/CA brokers based on their industrial real estate production.

The 9-year-old bank is expanding on its traditional service offerings with a new unit, Metropolitan Capital Advisors. Longtime Memphis real estate finance professional Rob Threlkeld will head up the unit as senior managing director.

The 9-year-old bank is expanding on its traditional service offerings with a new unit, Metropolitan Capital Advisors. Longtime Memphis real estate finance professional Rob Threlkeld will head up the unit as senior managing director.

Cushman & Wakefield/Commercial Advisors has named Memphis broker Kemp Conrad as one of the top performing real estate professionals in the country. The designation is given each year to the top 20 C&W/CA brokers based on their industrial real estate production.

Owner: FedEx Corp.Tenant: FedEx Corp.Contractor: Grinder & Haizlip ConstructionDetails: Contractor Grinder & Haizlip Construction has filed a $12.7 million building permit for renovations at the FedEx World Technology Center in Collierville.In January, the Collierville Board of Mayor and Aldermen ratified a 20-year payment-in-lieu-of-taxes incentive package for the FedEx center at 3860 S. Forest Hill-Irene Road.A term of the PILOT agreement is that FedEx has to invest $40 million in real property and personal property upgrades.The FedEx World Technology Center has been an economic driver for the city since its 16-acre campus opened in 1998. Currently, the tech hub is the largest employer in Collierville, with 2,500 total workers and a capacity for 3,200.

Memphis-based MAA is a year into its search for a new headquarters, and the company is moving closer to plans for a newly constructed building.

The real estate investment trust, which focuses on multifamily properties, first announced the move last summer. MAA is currently housed in nearly 43,000 square feet at 6584 Poplar Ave. in East Memphis. It is looking for an 80,000-square-foot space, with room to grow, to house its 200 local employees.

Alright, Memphis, grab your calendars! Whether you want to book it over to the Ruby Bridges Reading Festival or just baste in the scent of barbecue, there’s plenty to do this week. Here’s our roundup...

With its first quarter results, First Tennessee Bank’s parent company is off to the kind of start to the year any large banking organization would love to report – a reversal of losses, abundant capital to deploy and metrics like loans and deposits trending in the right direction.

The Memphis development community is looking inward and upward to increase density in the urban core. New construction is happening across all four commercial real estate sectors, with long-anticipated projects like Trader Joe’s and the redevelopment of Central Station finally coming to fruition. Construction and operating costs continue to be a challenge as new projects hit the top of their class to command higher rents.

East Memphis’ most prominent office towers, Clark Tower and the iBank Tower, are anchors in a strategy to make the Poplar Avenue-facing corner more walkable and memorable.

Late last year, In-Rel Properties purchased the iBank Tower, bringing both towers under the same ownership for the first time. The Florida-based real estate group plans to unite the 16-acre office campus with increased connections to the surrounding East Memphis restaurants and retail.

The Presidential primary caravan has arrived.Former President Bill Clinton was in Whitehaven Thursday evening to campaign for his wife, former Secretary of State and U.S. Senator Hillary Clinton.And it was a reminder of his political potency as well as his popularity in a city that went for Barack Obama over his wife in the 2008 Tennessee Presidential primary but which was solidly behind him in both of his successful bids for the White House in the 1990s.Clinton spoke in a packed Whitehaven High gymnasium to more than 700 people for almost an hour and then worked the crowd that gathered near the podium for another 25 minutes before sprinting out a door to a waiting car.We’ll be busy this weekend with the opening of the local Bernie Sanders campaign headquarters and we’re still waiting on that promised Donald Trump Memphis appearance.And we expect to encounter lots of Republican presidential partisans at the local GOP's annual Lincoln Day Gala on the 20th.

The Memphis industrial sector had a banner year in 2015. According to year-end data from Cushman & Wakefield/Commercial Advisors, last year’s absorption level came in at 8.4 million square feet, 2 million square feet higher than 2006’s pre-recession levels and a record for the market.